The controversial regulator alleges the banks failed to prevent fraud on Zelle, a payment platform they co-own.

The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at ...

The government accused three big banks of failing to protect consumers from fraud on the payment network Zelle.

The Consumer Financial Protection Bureau sued the operator of Zelle and three of the country's largest banks — JPMorgan Chase ...

The lawsuit cites Zelle’s designs and features, including a “limited” identity verification process that involves assigning a ...

Customers across the three banks have lost a combined $870 million since Zelle launched in 2017, regulators claim.

Action against Bank of America, JPMorgan Chase and Wells Fargo may not survive President-elect Donald J. Trump’s return to ...

Bank of America Corp., JPMorgan Chase & Co., and Wells Fargo & Co. — and the operator of the Zelle payment network are ...

A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect ...

The Consumer Financial Protection Bureau said more than $870 million in Zelle-related fraud losses hit consumers at three big ...

CFPB alleges that, as a result, hundreds of thousands of customers of JPMorgan Chase, Bank of America and Wells Fargo have lost more than $870 million since Zelle launched seven years ago.

Federal regulators said the nation's largest banks failed to put safeguards in place for consumers, creating a "gold mine for ...